• PancakeSwap recently announced the launch of a new lottery jackpot to celebrate the Lunar New Year.
• PancakeSwap has seen an increase in the number of daily active users, placing it among the top five Dapps and blockchains.
• Following these developments, CAKE’s price increased by more than 5% in the last 24 hours.
PancakeSwap, the automated token exchange platform, recently announced the launch of a new lottery jackpot to celebrate the Lunar New Year. This special Lunar New Year lottery campaign offers the chance to win up to 26,530 CAKE. Users can start purchasing tickets from 27 January. Following the first sale of 3,000 tickets, the jackpot will receive 100 CAKE for every 1,000 tickets sold.
Interestingly, PancakeSwap will add 0.1 CAKE to the jackpot for each retweet and like of the campaign tweet, resulting in an even larger jackpot. The Lottery Jackpot will be drawn on Round 792, Saturday 28, 12pm UTC, 2023. This is a great opportunity for users to get involved and possibly win a large sum of CAKE tokens.
Following the announcement, PancakeSwap witnessed an increase in the number of users on the network. Token Terminal’s data revealed that PancakeSwap was among the top five Dapps and blockchains in terms of daily active users. BNB, Ethereum, and Polygon topped the same list.
The news of the lottery jackpot and the increase in the number of users on the network resulted in an increase in the price of CAKE tokens. As per CoinMarketCap, at the time of writing, CAKE was trading for $17.68 with a market cap of $5.5 billion. The token has seen a 5% rise in price in the last 24 hours.
Overall, the recent developments have resulted in a positive sentiment in the crypto space. Investors are optimistic about the future of CAKE tokens and the potential of PancakeSwap. It will be interesting to see how the market responds to the upcoming lottery jackpot and whether or not it will continue to drive the prices of CAKE higher.